Ensco drillship contract cancelled by ConocoPhillips

Ensco drillship contract cancelled by ConocoPhillips

London: Offshore driller Ensco has announced that ConocoPhillips has provided notice of termination for a three-year drillship contract.

The 2014-built ENSCO DS-9 had been scheduled to commence the drilling contract for ConocoPhillips in the fourth quarter of this year. ConocoPhillips is now obligated to pay termination fees monthly for two years at a day rate of around $550,000. The fees may be partially defrayed should Ensco re-contract the rig within the two years. ConocoPhillips is also obligated to reimburse costs that Ensco has incurred due to the termination.

The drillship had been scheduled to commence its initial drilling contract for ConocoPhillips in the fourth quarter of this year.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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